AKRON, Ohio, May 24, 2021 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) today released its annual report on corporate responsibility performance. Despite the challenges from the ongoing COVID-19 pandemic, the report summarizes the Company's actions in 2020 that demonstrate its continued commitment to ethical and sustainable processes, materials and programs.
"In 2020, Goodyear associates were more agile and resilient than ever before, delivering on immediate business needs and serving our customers, first responders and essential workers," said Richard J. Kramer, chairman, chief executive officer and president. "Our actions continue to be guided by Goodyear Better Future, our corporate responsibility framework, that unites us in our commitment to safety, quality, integrity and responsibility."
Goodyear's 2020 report is organized by the pillars of the Better Future framework, which are Sustainable Sourcing, Responsible Operations, Advanced Mobility and Inspiring Culture. Some of the report's highlights include:
Sustainable Sourcing: In 2020, Goodyear introduced its fourth consumer tire line that features soybean oil as a replacement for petroleum-derived oils. Soybean oil is a bio-based, renewable resource that helps keep a tire's rubber compound pliable in low temperatures, a key performance achievement in maintaining and enhancing grip in dry, wet and winter weather.
Responsible Operations: In 2020, Goodyear continued its work to reduce its environment impact, achieving a 20% reduction in greenhouse gas emissions intensity, a 19% reduction in energy intensity and a 55% reduction in water intensity, all compared to a 2010 baseline.
Advanced Mobility: In 2020, Goodyear continued its focus on improving fuel efficiency by achieving a 31% reduction in rolling resistance and an 8.2% reduction in tire weight in its global consumer tire portfolio from a 2005 baseline. In addition, Goodyear introduced bold technology goals, including for all Goodyear tires to be data- and sensor-enabled intelligent tires by 2027 and for the development of a 100% sustainable-material and maintenance-free tire by 2030.
Inspiring Culture: In 2020, associate membership in Goodyear's Employee Resources Groups (ERGs) continued to grow. The seven ERGs now have more than 3,000 global members and 32 global chapters. Despite the pandemic, the ERGs held more than 200 professional development and networking events in the past two years.
Goodyear's 2020 report was prepared in accordance with the Global Reporting Initiative (GRI) Standards: Core option. This year's report can be found at this link:
About The Goodyear Tire & Rubber Company
Goodyear is one of the world's largest tire companies. It employs about 62,000 people and manufactures its products in 46 facilities in 21 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.
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SOURCE The Goodyear Tire & Rubber Company